Google has introduced a new student loan repayment program for its workforce in the U.S. to helps them pay off their student loans faster and build more financial stability over the long term.As part of the program, Google will match up to USD 2,500 per Googler per year in student loan payments beginning from next year. The program will expand globally over time. Talking about the student loan debt, the search giant said that it’s a global issue, but Americans, in particular, face an enormous student loan deficit i.e. USD1.5 trillion dollars and this burden disproportionately affects women and communities of color.
“Lack of financial resources should not prevent someone from accessing the opportunities that come with education. For a long time, we’ve worked to increase access to education and help people get the skills they need to advance their careers and attain economic stability to better support themselves and their families,” John Casey, Director, Global Benefits at Google wrote in a blog post. Back in July 2020, the company introduced Google Career Certificates in the U.S. to help people learn job-ready skills to start or advance their careers in high-demand fields. Google said it will consider these certificates as the equivalent of a four-year degree for entry-level related roles. Further, starting in 2021, the search giant will provide a base level of educational benefits to those working on Google-related projects in the U.S. “Change starts at home. And we’ll keep looking for more ways to increase access to education and opportunity for everyone,” Casey further added.